Cypress Asset Management Inc. TX decreased its position in shares of Intel Corp. (NASDAQ:INTC) by 2.6% during the third quarter, Holdings Channel reports. The fund owned 128,613 shares of the chip maker’s stock after selling 3,420 shares during the period. Cypress Asset Management Inc. TX’s holdings in Intel Corp. were worth $4,855,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in INTC. Natixis boosted its position in Intel Corp. by 1,486.7% in the first quarter. Natixis now owns 3,005,998 shares of the chip maker’s stock valued at $97,244,000 after buying an additional 2,816,554 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its position in Intel Corp. by 1.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,156,402 shares of the chip maker’s stock valued at $37,410,000 after buying an additional 11,040 shares during the last quarter. Zions Bancorporation boosted its position in Intel Corp. by 5.3% in the first quarter. Zions Bancorporation now owns 73,537 shares of the chip maker’s stock valued at $2,304,000 after buying an additional 3,675 shares during the last quarter. Clark Capital Management Group Inc. boosted its position in Intel Corp. by 551.6% in the first quarter. Clark Capital Management Group Inc. now owns 103,130 shares of the chip maker’s stock valued at $3,336,000 after buying an additional 87,303 shares during the last quarter. Finally, EFG Asset Management Americas Corp. acquired a new position in Intel Corp. during the first quarter valued at approximately $299,000. Institutional investors own 64.58% of the company’s stock.
Intel Corp. (NASDAQ:INTC) traded up 0.68% on Friday, hitting $35.44. 6,372,836 shares of the company traded hands. Intel Corp. has a 12 month low of $27.68 and a 12 month high of $38.36. The stock’s 50-day moving average is $35.46 and its 200 day moving average is $34.41. The stock has a market cap of $167.95 billion, a PE ratio of 16.63 and a beta of 1.07.
Intel Corp. (NASDAQ:INTC) last issued its quarterly earnings data on Tuesday, October 18th. The chip maker reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.07. Intel Corp. had a net margin of 17.90% and a return on equity of 21.05%. The company had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same period last year, the firm posted $0.64 EPS. Intel Corp.’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts expect that Intel Corp. will post $2.67 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.93%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s payout ratio is currently 49.06%.
INTC has been the subject of a number of research reports. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Intel Corp. in a report on Friday, August 19th. Zacks Investment Research cut Intel Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, November 16th. BNP Paribas set a $37.00 price objective on Intel Corp. and gave the stock a “neutral” rating in a report on Monday, September 19th. Vetr cut Intel Corp. from a “strong-buy” rating to a “buy” rating and set a $41.20 price objective for the company. in a report on Wednesday, October 12th. Finally, Cowen and Company upped their price objective on Intel Corp. from $36.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, September 16th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $39.71.
In other Intel Corp. news, VP Gregory R. Pearson sold 250,192 shares of the firm’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $36.50, for a total transaction of $9,132,008.00. Following the transaction, the vice president now directly owns 92,826 shares of the company’s stock, valued at approximately $3,388,149. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian M. Krzanich sold 67,508 shares of Intel Corp. stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $37.71, for a total transaction of $2,545,726.68. Following the completion of the sale, the chief executive officer now directly owns 420,506 shares in the company, valued at approximately $15,857,281.26. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
Intel Corp. Company Profile
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.